TripAdvisor is due to go public today (Wednesday) by gaining a listing on the NASDAQ stock exchange in New York.
The company, with 1,172 employees and $486 million in revenue last year, is being spun out from Expedia, which itself was spun out of InterActive Corporation in 2005.
Going public will give the travel reviews site a higher profile in the travel industry, and could also help the company recruit, according to chief executive Steve Kaufer.
The Boston-based company operates TripAdvisor.com and 18 other travel sites, which collectively attract 40 million visitors a month. IAC chairman and chief executive Barry Diller will remain as the controlling shareholder of TripAdvisor and the company’s chairman.
TripAdvisor was formed in 2000 and was acquired by IAC for about $200 million seven years later.
Kaufer is quoted by Boston.com as saying: “When we think about the thing that would most move our success needle in future years, hiring top tech talent is always at the top.